• 0 Posts
  • 3 Comments
Joined 2 months ago
cake
Cake day: November 7th, 2024

help-circle


  • The image is a poor analogy because unlike when someone creates an image or any form of art, when a borrower takes out a loan, the lender records a receivable as an asset and the borrower’s account as an offsetting liability. Once this happens, the loan cannot then just be magically erased—somehow, some way, the lender must be made whole again. In the case of loan forgiveness, it comes out of the tax payers’ pockets. Whether that’s theft or not is a separate topic, and I think another commenter covered it well by comparing it to any other government program or subsidy.